Making Paris an international financial centre via innovations…

This blog has pointed multiple times how Paris is making bids to become an  international financial centre post Brexit (one, two, three).

In this speech, Banque de France Governor, François Villeroy de Galhau, highlights how they are using an innovation approach:

Why is the Banque de France involved in financial innovation? Because we are at the crossroads of a European choice and a national ambition. The European choice is that of a federal Eurosystem, with a single monetary policy that is naturally decided centrally but whose implementation is decentralised at the level of each national central bank. The national ambition is to be the central bank for markets within the Eurosystem. For the Banque de France, this is a tradition recognised over the 20 years of the euro, backed by its high-quality teams, and is the first of our Ambitions 2020 strategic plan commitments. This is a win-win situation: for the Eurosystem – which will benefit from many of these innovations – but also for the French economy and the Paris financial centre.

Hmm…

He highlights five recent innovations done by the Banque  from developing a single market for collateral to blockchain technologies.

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